iOS Bugs: All apps stuck on "Waiting" to install

After updating to iOS 5.0.1 via iTunes and rebooting, I found all the App Store apps installed on my iPhone were suddenly waiting to download. That's right. All of them. Just "Waiting". Unable to launch.

I tried force-quitting the App Store app. I tried rebooting. I tried resetting. I logged into and out of the App Store app. I checked if there were any iTunes Store downloads, like podcasts, that might have gotten "stuck" (there weren't). I checked if any large apps like Navigon were slowly -- very slowly -- downloading (they didn't appear to be.) I tried re-syncing with iTunes on my desktop (the apps came back, still waiting).

I could still download new apps and those worked fine. They actually downloaded quickly, installed completely, and launched properly.

With 5 pages of apps, it's going to be a pain to delete them all and re-download them all one by one, but it's about the only option I have left right now.

Problem

All App Store apps show as "waiting" to install and can't be launched

Possible solutions

Stop any iTunes Store downloads that might have gotten stuck

Delete any big apps that might be clogging the install problem

Manually delete and re-install all App Store apps.

Note: Like I said, the first two didn't work for me but they were offered as potential fixes on Apple's discussion forums, so if you have the same or a similar problem, give them a try before you escalate to the last one.

If anyone else has figured out a better solution, let me know in comments!